What are POS Reports?
POS system reports are generated by the information your point-of-sale (POS) system gathers at the time of sale and other activities. POS reporting provides detailed insights into your business’s daily, monthly, and annual performance. This data can be useful in driving business decisions.
POS Reports Benefits
Reporting insights allow the owner to find ways to improve daily operations while minimizing waste. With an overview of sales data, inventory tracking, staff performance, and customer insights, reporting can help you better understand future demand and even prepare for holiday sales. Furthermore, POS reporting can help you determine products to order, promotions to run, and where to pursue future growth. Some reporting will even track consumer information such as who they are, why they are buying, consumption habits and preferences, which benefits the company in a variety of ways. It can even help you create personalized customer service strategies and marketing promotions for individual customers.
Reasons Why to Run POS Reports
Purchasing Decisions – Make your ordering process a breeze with low stock notifications and insights to your best-selling items. Stay in the know and avoid re-ordering non-selling items. Inventory tracking eliminates all the guesswork from the ordering process.
Staff Managing – Manage staff easier with insights to staff reports, work schedules and pay scales. Generate reports to determine which employee is excelling in each specific area. View each employees average sale amount, completed transactions, as well as upsells. Labor reports allow owners to access time-entry reports, worked hours, pay rates, and create upcoming work schedules. Some reports will even notify owners in real-time when employees clock in late or stay overtime.
Marketing and Retention – Marketing reports help companies improve their outreach efforts with promotions and discounts that target audience based on their purchasing habits and interests. Loyalty reports help create and maintain enticing loyalty plans designed to retain existing customers. Both reports allow insights on returning customers and new customers as well as used promotions and frequent loyalty plan usage.
With our POS solutions, you can access business performance, monitor sales, and run your business in real-time from anywhere you have access to the internet. Reporting and insights should lead to better business decisions, which also lead to a booming business. Call us today and ask us how to get started.